- Travel + Leisure Co (NYSE: TNL) reported second-quarter FY21 sales growth of 132% year-on-year, to $797 million, beating the analyst consensus of $721.87 million.
- Vacation Ownership revenue increased 152% Y/Y to $599 million, while Travel and Membership revenue rose 92% to $204 million.
- Operating expenses rose 74.5% Y/Y to $349 million, with total expenses for the quarter at $646 million.
- The operating margin was 18.9%, with $151 million in operating income for the quarter.
- Net cash provided by operating activities for the six months ended June 30, 2021, rose 123% to $290 million.
- Adjusted EBITDA surged to $193 million, with a margin of 24.2%.
- Adjusted EPS of $0.88 beat the analyst consensus of $0.74.
- “Leisure travel is back in a significant way. All indicators of consumer behavior show that consumers are fulfilling their desire to travel, and we are benefiting from that recovery,” said president and CEO Michael D.
Starting Friday, Nevada will require masks to be worn indoors, including on Las Vegas casino floors, adopting the latest guidance from the CDC.
The state’s Gov. Steve Sisolak signed an emergency directive implementing a mask mandate “consistent with the guidance issued by the CDC, and any subsequent guidance issued by the CDC.”
The mandate comes just days after the Centers for Disease Control and Prevention recommended people wear masks indoors “in areas with substantial and high transmission,” regardless of their vaccination status. In Nevada, 12 of 17 counties are currently classified as having either “substantial” or “high” risk of transmission, including Clark County where Las Vegas is located.
In recent weeks, the country has seen a rise in coronavirus cases, most of which are attributed to the highly contagious delta variant. Nationwide, 49.94% of counties are considered as having a “high” risk of transmission, and another 16.68% are at “substantial”